UK Money News
13th June 2008
Cost of motoring to 'force drivers off the roads'
Fuel price hikes and higher car insurance premiums could mean that drivers spend as much money keeping their car on the road as the value of their vehicle a price comparison site has predicted.
Energy giant Gazprom has predicted that by 2009, the price of a litre of petrol could rise as high as £2.30
Should this be the case, uSwitch.com calculates that filling the tank of a car for a year would cost an average of £3,300.
Added to these are additional running costs such as car insurance and road tax which will cost around £500 – totalling £3,800 to keep a car on the road.
This figure is just £385 more than the average value of £4,227 for cars on UK roads.
Ann Robinson, director of consumer policy at uSwitch.com, commented: "We are heading towards a situation where motorists are going to be priced off the roads. At £2.30 per litre a driver's annual spend on petrol will soar by almost £2,000.
"Drivers are also going to need to contend with rising insurance premiums and increased road tax as announced in the Budget."
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